SoFi Bad Credit Loans – Your Questions Answered

SoFi Bad Credit Loans

Are you looking for the details on SoFi bad credit loans? If yes, then read on!

Social Finance, Inc was founded by Stanford Business School students. It started as an alumni-funded lending program to connect recent grads and alums in their local community.

SoFi is a new finance company that aims to help people manage their money. SoFi’s products are designed around our members so that they can take control of their finances.

Why SoFi?

  • Smart money moves earn you points. Reward points can be redeemed for cash, fractional shares in stock, SoFi loan payments, and many other things.
  • Their support team is available via chat or phone to assist when you are in need.
  • Complementary benefits for members: SoFi members can access SoFi Stadium and financial planning.

SoFi Bad Credit Loans: Does SoFi offer personal loans for bad credit?

SoFi doesn’t offer personal loans to people with bad credit because they require a minimum credit score of at least 680+ to be approved.

Are you able to get a student loan at SoFi even if your credit is not perfect?

You don’t have to have bad credit to get a student loan. Federal student loans are available.

Frequently Asked Questions About SoFi Loans

What is the minimum credit score required for SoFi?

To be approved for a personal loan, SoFi requires that you have a minimum credit score of 680. There is no same-day funding. Once approved, borrowers will receive funds in a matter of days.

Is SoFi approved instantly?

Online lenders like SoFi usually allow funds to be available within a few business days after approval. The online route offers many benefits, including the speed of application. It is possible to fill out an online application quickly and easily if you have all the information.

What FICO score does SoFi use?

Before making a loan decision, SoFi considers your FICO score and Vantage score. It relies on reports from Equifax, TransUnion, and Experian, the major credit reporting agencies.

Does SoFi do a credit check?

SoFi will conduct a soft credit check when you apply for a credit card. No hard pull will be performed if you are not qualified. A hard pull may be required if your SoFi credit card application is accepted. This could impact your credit score.

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